APTA: Transit users save $8.6K yearly

Riding public transportation can save an individual an average of $8,691 a year based on the May 5, 2009 national average gas price and the unreserved monthly parking rate, according to the American Public Transportation Association (APTA).

The Transit Savings Report, released monthly by APTA examines how much individuals can save annually by taking public transportation rather than driving and having one less car in the household.

The report calculates the average savings for public transit users at $724 per month. This is based on the cost of parking and the May 5 gas price of $2.079 as reported by AAA. The cost per gallon of regular unleaded fuel is now up 33 cents since December 2008.

Regarding parking costs, the national average for the monthly unreserved parking rate in a city’s downtown business district is $143, according to the 2008 Colliers International Parking Rate Study. Over the course of a year, parking costs alone can amount to an average of $1,720.

To calculate your individual savings with or without car ownership, go to www.publictransportation.org.